Mills showed fresh interest in purchasing of fine quality lint on the cotton market on Saturday, dealers said. The official spot rate was unchanged at Rs 8100, they added. Prices of seed cotton in Sindh and the Punjab were at Rs 3600-3800, they said. In Balochistan, prices of seed cotton were unchanged at Rs 3700-4000, they said.
In ready session, over 6000 bales of cotton finalised between Rs 8200-8250, they said. Market sources said that trading activity picked up as it was expected. They said that several factories have not yet started functioning due to slow arrivals, but now activity will improve in the coming days. Cotton analyst, Naseem Usman said that the lethargic mood in the international market owing to trade war is over shadowing local business, as well.
In the world markets, cotton prices were firm, he added. The following deals reported: 1000 bales of cotton from Sanghar at Rs 8200/8250, 1200 bales from Shahdadpur at Rs 8200/8250, 800 bales from Mirpurkhas at Rs 8200, 1600 bales from Tando Adam at Rs 8200/8250, 1000 bales from Hyderabad at Rs 8200, 200 bales from Sarari at Rs 8200 and 400 bales from Kotri at Rs 8200, they said.
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The KCA Official Spot Rate for Local Dealings in Pakistan Rupees
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FOR BASE GRADE 3 STAPLE LENGTH 1-1/16"
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MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL
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Rate Ex-Gin Upcountry Spot Rate Spot Rate Difference
For Price Ex-Karachi Ex. KHI. As Ex-Karachi
on 24-08-2018
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37.324 kg 8,100 160 8,260 8,260 NIL
Equivalent
40 kgs 8,681 171 8,852 8,852 NIL
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